Federal Register / Vol. 63, No. 125 /Tuesday, June 30, 1998 / Notices 35613

requirements of the exemption do not

apply if the contract is sold to the plan

participants. The disclosure

requirements incorporated within the

exemption are intended to protect the

rights of plan participants by (1) putting

them on notice of the plan’s intention to

sell insurance or annuity contracts

under which they are insured and (2)

giving them the right of first refusal to

purchase such contracts.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 92–6.

OMB Number: 1210–0063.

Recordkeeping: 6 years.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Total Respondents: 7,960.

Frequency: On occasion.

Total Responses: 7,960.

Average Time Per Response: 10

minutes.

Estimated Total Burden Hours: 1,327.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter public record.

Dated: June 25, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17344 Filed 6–29–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Information Collection

Request Submitted for Public

Comment and Recommendations;

Prohibited Transaction Class

Exemption 82–63

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

provides the general public and Federal

agencies with an opportunity to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork

Reduction Act of 1995 (PRA 95) 44

U.S.C. 3506(c)(2)(A). This program

helps to ensure that requested data can

be provided in the desired format,

reporting burden (time and financial

resources) is minimized, collection

instruments are clearly understood, and

the impact of collection requirements on

respondents can be properly assessed.

Currently, the Pension and Welfare

Benefits Administration is soliciting

comments concerning the proposed

extension of a currently approved

collection of information, Prohibited

Transaction Class Exemption 82–63. A

copy of the proposed information

collection request can be obtained by

contacting the employee listed below in

the contact section of this notice.

DATES: Written comments must be

submitted on or before August 31, 1998.

The Department of Labor is

particularly interested in comments

which:

• evaluate whether the proposed

collection of information is necessary

for the proper performance of the

functions of the agency, including

whether the information will have

practical utility;

• evaluate the accuracy of the

agency’s estimate of the burden of the

proposed collection of information,

including the validity of the

methodology and assumptions used;

• enhance the quality, utility, and

clarify the information to be collected;

and

• minimize the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submissions

of responses.

ADDRESSES: Gerald B. Lindrew,

Department of Labor, Pension and

Welfare Benefits Administration, 200

Constitution Avenue, NW, Washington,

D.C. 20210, (202) 219–4782 (this is not

a toll-free number), FAX (202) 219–

4745.

SUPPLEMENTARY INFORMATION:

1. Background

Prohibited Transaction Class

Exemption 82–63 allows the payment of

compensation under certain conditions

for the provision by an employee benefit

plan fiduciary of securities lending

services to the plan. In the absence of

this exemption, certain aspects of these

transactions might be prohibited by

section 406 of the Employee Retirement

Income Security Act.

II. Current Actions

This existing collection of information

should be continued because without

the relief provided by this exemption,

certain compensation arrangements for

the provision of securities lending

services by a plan fiduciary to an

employee benefit plan would be subject

to the prohibitions of section 406 of the

Employee Retirement Income Security

Act. The recordkeeping requirements

incorporated within the class exemption

are intended to protect the interests of

plan participants and beneficiaries. The

class exemption has two basic

information collection requirements.

The first requirement is that the

compensation be paid in accordance

with a written instrument authorized by

a non-lending fiduciary, and the second

is that the lending fiduciary furnish the

authorizing fiduciary with certain

information.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction Class

Exemption 82–63.

OMB Number: 1210–0062.

Recordkeeping: 6 years.

Affected Public: Business of other forprofit, Not-for-profit institutions,

lndividuals.

Total Respondents: 18,245.

Frequency: On occasion.

Total Responses: 36,490.

Average Time Per Response: 5

minutes.

Estimated Total Burden Hours: 3,041.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: June 25, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17345 Filed 6–29–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations; Prohibited

Transaction Exemption 96–62

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

provides the general public and Federal

agencies with an opportunity to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork